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  • DMX Is Bankrupt

    Wed, 07 Aug 2013 12:18:14

    DMX Is Bankrupt - It makes us wonder: Why do some many famous people have this problem?

    DMX Photos

    • DMX - GREER, SC - AUGUST 21:  In this handout photo provided by the Greer Police Department, Rapper DMX, whose real name is Earl Simmons, is seen in a police booking photo after his arrest for an outstanding warrant for driving with a suspended license and possession of marijuana when the vehicle he was a passenger in was pulled over for a traffic violation August 20, 2013 in Greer, South Carolina.
    • DMX - NEW YORK, NY - JUNE 13: (Front L-R) Peter Rosenberg of Hot 97, rapper DMX and rapper Jadakiss speak during the 2012 Rock the Bells Festival press conference and Fan Appreciation Party on at Santos Party House on June 13, 2012 in New York City.
    • DMX - NEW YORK - SEPTEMBER 23:  Rapper DMX attends the 2009 VH1 Hip Hop Honors at the Brooklyn Academy of Music on September 23, 2009 in the Brooklyn borough of New York City.

    more dmx photos »

    DMX Videos

    • DMX - Party Up (Up In Here)
    • DMX - I Don't Dance

    more dmx videos »

    Rapper DMX has filed for bankruptcy.

    DMX, born Earl Simmons, filed legal papers at the United States Bankruptcy Court in New York City, claiming that he has less than $50,000 in assets and debts of more than $1 million. Yikes!

    The papers indicate that his debt ranges from between $1 million to $10 million and that at least $1.2 million is owed in child support payments. Sounds like a fiscal nightmare.


    This bankruptcy scenario happens a lot. Why do you think celebs and famous people have so much trouble managing their money? Is it shoddy accounting? Poor planning? What's your opinion?

    —Katie Sheehan

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